date:Nov 04, 2013
Jeronimo Martins saw its third-quarter net profit drop by a surprise 3.8% to 115m, a result it blamed on a tough trading environment in the key market of Poland. The group however noted that EBITDA grew by 3% to 224m, and sales were up 10% to 3.06bn.
In Poland, the group noted: Since the end of the second quarter the food retail market has become much more competitive with a high level of promotions throughout the quarter. However, it added that its market share in the country continued to grow